Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 24.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,596 shares of the financial services provider’s stock after acquiring an additional 3,090 shares during the period. First Trust Direct Indexing L.P.’s holdings in Fifth Third Bancorp were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in FITB. Capital World Investors boosted its stake in shares of Fifth Third Bancorp by 34.2% in the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock worth $1,416,985,000 after acquiring an additional 10,472,392 shares during the last quarter. Norges Bank purchased a new position in Fifth Third Bancorp during the fourth quarter worth approximately $257,189,000. Smead Capital Management Inc. acquired a new position in Fifth Third Bancorp during the fourth quarter worth $67,354,000. Boston Partners grew its holdings in Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock valued at $502,719,000 after buying an additional 1,499,194 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Fifth Third Bancorp by 341.8% in the 4th quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after acquiring an additional 1,492,124 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on FITB shares. Jefferies Financial Group boosted their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, June 11th. Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. upgraded Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $37.50 to $39.50 in a research report on Wednesday, May 1st. Finally, DA Davidson raised their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.15.

View Our Latest Stock Report on FITB

Fifth Third Bancorp Trading Down 2.1 %

Shares of NASDAQ FITB opened at $36.01 on Friday. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $39.14. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $36.88 and a 200-day simple moving average of $35.64. The stock has a market capitalization of $24.63 billion, a PE ratio of 11.43, a PEG ratio of 2.53 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts forecast that Fifth Third Bancorp will post 3.29 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.89%. Fifth Third Bancorp’s payout ratio is 44.44%.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Company Profile

(Free Report)

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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